An increased demand for lawyers' services to prosecute damage suits
What will be an ideal response?
raises the cost of hiring a lawyer to draw up a will.
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Assume that Figure 4-16 shows the supply of new houses. An improvement in the technology for building houses will shift supply from
A. S1to S2. B. S2to S1. C. S3to S2. D. S3to S1.
If the bidders at a first-price auction have true values of $8, $7, $6, and $5, the item will sell for
a. $8 b. $7 c. just over $8 d. just under $7
The international oil price hike by OPEC was an adverse supply shock faced by the U.S. in the 1970s
a. True b. False Indicate whether the statement is true or false
Which of the following could cause the demand curve for tickets to Disney World to shift to the right?
a. A hurricane is predicted to hit Orlando next week. b. A new app can predict wait times on rides and reduce wait by 90%. c. Consumer incomes decreased during the last quarter due to new tax increases. d. Universal Studios lowered the price of their one day passes to Harry Potter Land.